Aurum Markets Blog Technical Analysis Important price line breached by USDJPY

Important price line breached by USDJPY

Important price line breached by USDJPY post thumbnail image

USDJPY has broken through a line of 147.4525 and suggests a possible movement to 146.9438 within the next 10 hours. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 3 days.

Supported by Downward sloping Moving Average

Target: 146.9438 Entry: 147.3555 Stop: 147.6505

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